Reddit's Top Stocks in August

September 1, 12:49 pm

In recent years, Reddit has emerged as a significant force in the stock market, with its army of retail investors banding together to drive up the prices of undervalued or heavily shorted stocks. Tracking Reddit mentions has become increasingly important as it can offer a glimpse into the collective mindset of a large and influential group of individual investors, which can, in turn, help predict potential market movements. However, August proved to be a challenging month for some of the most popular 'Reddit stocks'. Long-term favorites such as GameStop and AMC, which have been subject to wild swings in the past due to their popularity on forums like WallStreetBets, experienced a notable decline in their stock prices, raising questions about the sustainability of gains driven by social media-fueled retail investing.
Let’s take a look at the companies that were mentioned the most on Reddit in August.

Company Mentions Change % (mentions) Change % (price)

NVIDIA (NVDA) experienced a notable increase in mentions by 115% and a price change of 6%. AMD had a 110% increase in mentions, but its stock price fell by 8%. PayPal (PYPL) saw a 69% increase in mentions but a 17% decrease in its stock price. AMC witnessed a 32% increase in mentions but a dramatic 71% decrease in its stock price.

These movements, particularly the dramatic decrease in AMC's stock price, indicate that the "meme stock" era is slowly coming to an end.

Get More Insights

Sign up and get access to a personalized dashboard, deeper insights, AI stock picks, stock alerts, weekly newsletter and much more.

About Us

AltIndex revolutionizes investing with advanced alternative data analytics, smart insights, and stock alerts, presented in an easy-to-use dashboard powered by comprehensive company data from across the internet.

Legal Disclaimer
The information provided by AltIndex is solely for informational purposes and not a substitute for professional financial advice. Investing in financial markets carries inherent risks, and past performance doesn't guarantee future results. It's crucial to do your research, consult with financial experts, and align your financial objectives and risk tolerance before investing. AltIndex creators and operators are not liable for any financial losses incurred from using this information. Users should exercise caution, seek professional advice, and be prepared for the risks involved in trading and investing in financial assets, only investing what they can afford to lose. The information in this application, derived from publicly available data, is believed to be reliable but may not always be accurate or current. Users should verify information independently and not solely rely on this application for financial decisions. By using AltIndex, you acknowledge that it doesn't offer financial advice and agree to consult a qualified financial advisor before making investment decisions.

© 2024 AltIndex. All rights reserved.